Apple has foreshadowed a challenge in the event two law firms seek to work together on a consolidated class action that alleges both Apple and Google engaged in anti-competitive conduct in operating their app stores.
The Commonwealth Bank of Australia has argued that disclosing its money laundering failures before AUSTRAC brought proceedings would have misled the market, as the bank takes the rare move of defending a shareholder class action at trial.
While CBA’s defence to a shareholder class action argues the bank did not need to disclose money laundering failures because it doubted AUSTRAC would take legal action, communications show it was drafting a defence six months before proceedings started, a trial has heard.
The Commonwealth Bank of Australia knew about a “catastrophic” code error that caused widespread non-compliance with money laundering rules two years before it was disclosed to the market, a court has been told in a rare shareholder class action trial.
Mineral exploration company Kupang Resources has lost its battle for access to documents produced to the ATO by a former director accused of embezzling millions of dollars.
Mining company Kupang Resources has asked the High Court to weigh in on its bid for tax office documents as it litigates to recoup millions of dollars allegedly embezzled by the company’s former shadow director.
A judge has signed off on a $56.3 million settlement in a class action against wealth manager Colonial First State that will see Maurice Blackburn earn $14.5 million in costs, saying it was a good example of the class action regime in operation.
Law firm Maurice Blackburn will ask a court to approve $14.5 million in costs for running a class action against Colonial First State that has settled for $56.3 million, giving account holders 75 per cent of the proceeds.
The High Court has declined special leave to a class action to challenge a ruling that found dam operator Seqwater was not liable for the 2011 Queensland floods, after the state of Queensland and subcontractor Sunwater agreed to pay $440 million last year to settle their share of the liability in the long-running case.
Colonial First State will pay $56.3 million to settle a class action that accused the wealth management group of delaying the transfer of $3.2 billion in customer funds to low cost MySuper accounts.